PTC (NASDAQ:PTC) Sets New 52-Week High – Should You Buy?

PTC Inc. (NASDAQ:PTC)’s share price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $196.05 and last traded at $195.69, with a volume of 720,064 shares. The stock had previously closed at $195.07.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada downgraded shares of PTC from a “buy” rating to a “sector perform” rating and raised their price objective for the stock from $195.00 to $306.00 in a report on Monday, October 5th. Piper Sandler reduced their target price on shares of PTC from $175.00 to $157.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Barclays cut PTC from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $155.00 to $205.00 in a report on Monday, October 5th. Rosenblatt Securities lowered PTC from a “buy” rating to a “neutral” rating and raised their price target for the stock from $190.00 to $205.00 in a research report on Monday, October 5th. Finally, JPMorgan Chase & Co. upgraded shares of PTC from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $145.00 to $205.00 in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $200.06.

PTC Stock Down 0.2%

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.63 and a quick ratio of 1.03. The firm has a 50-day moving average price of $168.57 and a 200 day moving average price of $148.44. The company has a market cap of $21.28 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 2.57 and a beta of 0.93.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $673.25 million for the quarter, compared to analyst estimates of $663.56 million. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business’s revenue was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.41 EPS. Sell-side analysts predict that PTC Inc. will post 7.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $195.75, for a total transaction of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. This represents a 20.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently added to or reduced their stakes in PTC. Renaissance Technologies LLC boosted its holdings in PTC by 89.3% in the first quarter. Renaissance Technologies LLC now owns 389,100 shares of the technology company’s stock valued at $55,443,000 after acquiring an additional 183,600 shares during the last quarter. SCS Capital Management LLC acquired a new position in shares of PTC during the second quarter worth approximately $37,912,000. Amundi lifted its stake in shares of PTC by 151.9% in the first quarter. Amundi now owns 1,725,555 shares of the technology company’s stock valued at $245,885,000 after buying an additional 1,040,656 shares in the last quarter. Bank of America Corp DE bought a new stake in PTC during the 2nd quarter worth approximately $57,186,000. Finally, Hsbc Holdings PLC boosted its holdings in PTC by 65.0% during the 2nd quarter. Hsbc Holdings PLC now owns 587,782 shares of the technology company’s stock worth $66,753,000 after acquiring an additional 231,563 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

About PTC

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.